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Wednesday, July 14, 2010

FTK


Today's unusual options trading, from whatstrading.com.




FTK is an interesting case, getting a huge volume of calls in December 2.50's, which already had a high open interest. Options in FTK don't see much volu,me, so this could be the same trader. He is picking these up quite cheap. There are no July options open on this, the earliest are Septembers, and open interest isn't very high in those.


FTK is a formerly high flying oil and gas services company, that crashed in 2008 and never came back. I don't know what the chances it has of getting over 2.50, but if it does someone will make a boatload of money.

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